Workhorse Group, Inc. · NASDAQ:WKHS

Workhorse — Technical Presentation (July 2016)

18 slides from Workhorse's technical presentation, Jul 8, 2016

  1. Slide 1: MT017: Medium Duty Parcel Delivery Truck

    MT017: Medium Duty Parcel Delivery Truck ‘ Thomas Griffin __— June 2016 —

  2. Slide 2: Program Overview

    Program Overview Hydrogen Fuel Cell Extended-Range Battery Electric Vehicles Demonstration * $3.0 million from Department of Energy ¢ — Integration of fuel cells into 20 battery electric pickup and delivery vehicles, PUDs — BP1-1 truck * Design * Integrate & test fuel cell systems — Safety — Communi

  3. Slide 3: Project Main Objectives

    Project Main Objectives DOE Project Objectives [Demonstrate / deploy hydrogen and fuel cell technologies in real-world environments. Project Impact 20 parcel delivery trucks will operate one shift 260 days annually for approximately 10 hours per day Ancillary Objectives Operate 5,000+ hours Project

  4. Slide 4: Program Overview

    Program Overview Timeline Barriers * Grant awarded - October 2015 * Unknown ability to meet safety, performance & + Kickoff meeting - May 2016 reliability needs + Project end - October 2019 + Variable energy requirements * Project completion - < 5% — Route differences — Parasitic losses (HVAC, ancil

  5. Slide 5: Relevance: DOE Strategy

    Relevance: DOE Strategy DOE Goals * Office of Energy Efficiency and Renewable Energy — Fuel Cell Technology Office + Provide clean, safe, secure, affordable and relivable energy + Diverse domestic resources, provides energy security, reduces petroleum use, lower GHG emissions and criteria pollutants

  6. Slide 6: Relevance: FedEx Express Strategy

    Relevance: FedEx Express Strategy Connect the world responsibly and resourcefully — Business case Reduce fuel use Sustainability » Energy independence » Lower Total Cost of Ownership — Desire for long-range zero emission PUD — Continued need for zero emissions alternative to traditional battery EV »

  7. Slide 7: Relevance: FedEx Express Fleet Size 71,309

    Relevance: FedEx Express Fleet Size 71,309 The 2"4 Largest Fleet in North America WORLD WIDE VEHICLE COUNT Walk-In 29,610 GSE (powered) 15,007 Panel Van 11,440 Straight 3,572 Tractor 3,259 Other 8,421 i ALTERNATIVE VEHICLE COUNT GSE 3,300 HEV 424 EV 190 CNG 57 LPG 32 * Fleet count October 2015

  8. Slide 8: Relevance: FedEx Goals

    LL Relevance: FedEx Goals Vehicle Fuel Economy 2020 Fuel Economy Goal - 30% Relevance: Committed to Improving ‘% Improvement from FYOS 8 H wo REDUCE Optimize outing Identity an inves in and driving habits future tecnnologies to reduce mileage % LP Be asateraive and fuel use Naas fuel, nybrid-electri

  9. Slide 9: Relevance: Mileage Management

    Relevance: Mileage Management RANGE - SPEED - TIME Right Technology Right Duty Cycle PAYLOAD - STOPS - VOLUME PANEL VAN . [ierrerenr] (2m=] [Feroea] [00a] [zm000] [asooo] [Rowan] [Reoo0] faoooa] [Rona] [000] | [SH000] [tano0]

  10. Slide 10: Approach/Milestones

    Approach/Milestones Task Title Task or Milestone Completion Date eos ay 3 |Current %| (Milestone Description) Original | Revised | Actual Planned | Planned |Completed| “™Plete (0-100) Budget Period 1 Demonstration, Task 1: Program Management (3+ years) Quarterly and] Quarterly an eee eee Ge ae eal b

  11. Slide 11: Accomplishments

    Accomplishments Identified replacement EV OEM — Already has experience with range extension Technical kick-off meeting among program partners at manufacturing facility Program kick-off meeting among program partners at Memphis Superhub Analysis of worst case drive cycle (150 mile total route length

  12. Slide 12: Accomplishments

    Accomplishments Usage profile simulation to confirm right sizing Includes drive cycle, parasitic losses, regenerative braking : Baseline Electric Vehicle Fuel Cell Extended Range Electric Vehicle hie Spas pert ives soem Chm gen Cosas 0100 SOC ag asco Yrhoemn | S08 oy ‘sen ‘te Pa wlividill Texting se

  13. Slide 13: Accomplishments

    Accomplishments Preliminary mechanical layout of batteries, fuel cell, converter H2 storage ‘Addon! Fuel cal Stem Spee Secor wae 0

  14. Slide 14: Accomplishments

    Accomplishments Identified replacement EV OEM — New EV subrecipient has experience with range extension Technical kick-off meeting among program partners at manufacturing facility to discuss component requirements and placement Program kick-off meeting among program partners at Memphis Headquarters

  15. Slide 15: Future Work

    Future Work Budget Period 1 * Safety Planning ¢ — First Fuel Cell Unit Build * First Unit Integration * Verify Optimization Analysis — Dyno Testing — Durability Testing ¢ First Unit Validation

  16. Slide 16: Project Phase BP2

    Project Phase BP2 Budget Period 2 + Fuel system design * — Safety planning Optimization modeling + Battery capacity (kW-hr) * Fuel Cell Power (kW) * Hydrogen Tank capacity (kg H,) Safety Planning * Communications and Control Strategies * Leak detection and fuel isolation or purging Integration of fu

  17. Slide 17: Collaborations

    Collaborations U.S. Department FedEx ® of Energy Express Project Sponsor Prime Recipient Subrecipients PLUG > Vehicle and Fuel Cell POWER je 4 Data Collection Fuel Cell Manufacturer EV chassis and Powertrain Manufacturer @ Transportation.gov Pacific Northwest Began o NATIONAL LABORATORY Z Truck Body

  18. Slide 18: Thank You

    Thank You

Workhorse Group — Technical Presentation (July 2016) on 6ix